Police Employees Pension Board Minutes 10-9-14 CITY OF ATLANTIC BEACH
BOARD OF TRUSTEES OF THE ATLANTIC BEACH PENSION FUND
POLICE EMPLOYEES' PENSION BOARD MEETING
MEETING MINUTES
October 9,2014
1. The City of Atlantic Beach Police Employees' Pension Board meeting was called to order at
6:30 P.M. The members in attendance were trustees: Vic Gualillo, David Cameron, John Wolfel,
and Bill Tomson. Pension Plan Administrator Nelson Van Liere, and Investment Advisor Michael
O'Shields, also attended.
2. Courtesy of the floor to visitors. Chris Jorgensen said he is happy he could attend and is looking
forward to next year and second quarter.
3. Approval of the Minutes for September 11, 2014, Police Employees' board meeting. Motion to
approve was made by David Cameron and seconded by John Wolfel. The vote to approve was
unanimous.
4. Michael O'Shields led the discussion on investment performance as of 10/9/14 including year to
date information.
a. Discussion related to current equity and bond investment allocation and rate of
return. The ending portfolio value of$7,897,561 represents an annualized return of
8.0% for the period 9/30/11 to 9/30/14.
b. Historically October has been a challenging month and the goal is to protect
capital. There was a significant change due to a market rollover. Trustees
discussed moving from small cap to large cap funds and decided to keep the
allocation as it is.
5. Adjournment—John Wolfel made a motion to adjourn the meeting at 7:17 PM.
Vic Gualillo David Cameron
Chair Secretary
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